Employers added fewer jobs than expected last month, but the unemployment rate ticked down.
Stocks jumped on Friday, with the S&P 500 notching a new record high. The Nasdaq 100 and the Russell 2000 also climbed higher.
The jobs report showed that though fewer jobs than expected were added in December, the unemployment rate dropped by more than expected. Traders’ odds that the Fed would hold interest rates steady in its January meeting climbed to 97% following the news. The report seemed to ease economic concerns without precluding the possibility of cuts later on in the year.
(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)
Gaining:
* AI utility darling Vistra and zero-revenues nuclear company Oklo soared after both companies announced deals with Meta.
* Sandisk spiked amid Wall Street price target hikes.
* Southwest Airlines climbed to its highest level since 2022 on a double upgrade and 66% price target hike from JPMorgan.
* Mortgage lenders Rocket Cos, UWM, and LoanDepot; homebuilders DR Horton and Lennar; and online real estate platform Opendoor Technologies rose after President Trump called for a $200 billion mortgage bond purchase.
* ASML jumped as TSMC posted higher-than-expected Q4 sales and Wall Street analysts hiked their price targets.
* Novo Nordisk moved higher as Amazon Pharmacy will begin to offer home delivery for the company’s Wegovy pill.
* Intel spiked after Trump touted its “very successful” CEO and applauded the government’s investment in the company.
* Compass jumped as it closed a merger with Anywhere Real Estate to become the largest residential real estate brokerage.
* The native token of polygon, a proof-of-stake side chain of the ethereum network, led crypto market gainers.
* Tilray ticked higher after it reported earnings results after the bell yesterday that beat Wall Street expectations.
